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13627 Delwood Springs Ln, $274,900

December 19, 2009 By Spec Homes Leave a Comment
spec home 77044

spec home 77044New Home for Sale $274,900

Stunning one-story home with both formals adjoining the entry.

Spacious family room with a fireplace. Island kitchen with butler’s pantry.

Open morning area with a curved wall of windows. Game room. Guest suite.

Garden tub, separate glass-enclosed shower, double sinks and two walk-in closets in master bath.

Three-car garage.

2942 sqft 4 beds 3 baths property located at 13627 Delwood Springs Ln, Houston, TX 77044

Perry Homes

13627 Delwood Springs Lane
Houston, TX 77044
Chris Olson, Penelope Oliphant

281-458-0355

Hours:
Mon-Sat 10am-6pm; Sun Noon-6pm

Lakeshore 70′

31 homes available
From $274,900 – $390,900

School Districts: Humble ISD

Located on the west shore of Lake Houston, the 440-acre community of Lakeshore offers easy access to U.S. 59, FM 1960 and Beltway 8.

Filed Under: Inventory, Listings, Spec Homes, new homes Tagged With: , , ,

Speculative Builder Tax

December 15, 2009 By Spec Homes Leave a Comment
speculative builder tax

speculative builder taxSpeculative builders are subject to real estate excise tax on the selling price of the land along with all attachments including buildings, roads, and other structures. The sale of real estate is not subject to the B&O tax or retail sales tax.  

A speculative builder is the consumer of all material incorporated into the real estate.

Speculative home builders may not use a resale certificate to purchase materials used in speculative building. Any construction contractor hired by a speculative builder is a custom prime contractor for tax purposes and not a subcontractor.

Hence, any contractor performing construction services for a speculative builder must charge sales tax on the total contract price. 

When a speculative builder sells or contracts to sell property upon which there is a building under construction, all construction completed subsequent to the date of such sale or contract constitutes custom prime contracting.

The “retail sale” does not take place until the purchasers have the “right of possession” to the real property being constructed. Typically, the right to possession is transferred on the date of closing the property conveyance.

Therefore, retail construction on what was originally a speculative house does not occur until after closing.

Filed Under: Construction, Finance, Home Builders, Home Building, Spec Homes Tagged With: , , , ,

Homes Built for Speculation: Spec Home Rules

December 15, 2009 By Spec Homes Leave a Comment
spec home rules

spec home rulesWhen you build a spec home you are creating an asset that will be sold to another person.

Spec homes are built in anticipation of a sale; therefore, a construction contract does not exist. You do not use the rules for home construction contracts, which are contracts to build a home with four or fewer residential units.

When you build a spec home all the direct and indirect costs are accumulated.

These costs are called the basis of the property and cannot be deducted until the home is sold. The costs that must be included in the basis of the home are:

  • Land
  • Materials
  • Labor, and
  • Allocated indirect costs (See table of indirect costs)

Thus, the income is reported and the basis deducted in the year the home is sold.

Filed Under: Construction, Finance, Home Builders, Home Building, How-to, Spec Homes Tagged With: , , ,

Coto Spec Home Foreclosure 92675

December 4, 2009 By Spec Homes Leave a Comment
coto spec home 30751 fox run 92675
coto spec home 30751 fox run 92675

This hilltop retreat rests on a premier 2.8 acre lot and is equestrian zoned in the guard gated Hunt Club Community.

A timeless masterpiece of fine craftsmanship and superb quality. Enter through multiple archways to find a tranquil courtyard with designer fountain.

State-of-the-art technology includes a Smart Home system, built-in speakers throughout, touch screen monitors, custom home theater and a closed circuit security system.

The collaboration of a superb design team created the essence of luxury living. Main house offers nearly 8,000 SF with 5 bedrooms + den/office, 5 baths, 3 powders and the 1,500 SF guest house has a separate garage. Three covered loggias showcase gorgeous views and create an ideal outdoor living environment. Options include infinity edge pool, horse stables, tennis court and golf course.

For Sale (MLS-listed) $5,900,000 Brand new construction.
 
30751 FOX RUN Ln San Juan Capistrano, CA 92675
 
Beds: 6
Baths: 7.5
Sq. Ft.: 9,333
$/Sq. Ft.: $632
Lot Size: 2.8 Acres
Property Type: Residential, Single Family
Style: 3+ Levels, Santa Barbara, Tuscan
View: City Lights, Coastline, Ocean, Panoramic, Has View
Year Built: 2008
Community: Ortega/Orange County
County: Orange
MLS#: S565511
Source: SoCalMLS
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 278 days

Special thanks to Coto Housing Blog for sharing the story.

Filed Under: Finance, Listings, Real Estate, Spec Homes, new homes Tagged With: , , ,

Vacant Coto de Caza Spec Home

October 5, 2009 By Spec Homes Leave a Comment

The 16,500-square-foot hilltop house — in the community that was the setting for “The Real Housewives of Orange County” television show — is just one of dozens of unsold mega-mansions across Southern California conceived during the real estate bubble, when builders waged an ill-timed arms race to ever-increasing extravagance.

Comparably deluxe houses now lie vacant in droves along the coasts and hillsides of Southern California, from Manhattan Beach to Irvine. Their owners could afford to keep them on the market for months, sometimes years, hoping to find buyers who would pay their asking prices.

 vacant coto de caza spec house

That holding pattern has kept the most expensive segment of the home market from posting the kinds of sharp price drops seen just about everywhere else. But it’s now clear that there are too many palatial properties and too few princely buyers.

Two years ago, Larry Igarashi bet he could build a sprawling house in Orange County’s foothills that would sell for at least $10 million. These days, you can easily guess how that turned out.

On Saturday he put the eight-bedroom house in the gated Coto de Caza community on the auction block and got a high bid of $6.6 million — less than he was willing to accept.

Igarashi had gone all-out when he built the “Santa Barbara ranch” house: The master bedroom suite alone is 3,200 square feet, a bit smaller than the 10-car, climate-controlled garage, which measures 4,000 square feet. The driveway is long enough for a firetruck to turn around, and there’s a wine storage enclave with room for 1,400 bottles.

Spec home builders were motivated to ramp up square footage to justify higher prices on their projects. But buyers today who are more likely be looking for a long-term home than a place to flip may not want the trouble of maintaining such large houses.

A bigger question also remains: What if the giant spec homes just never sell?

“Sellers there now have to unload, and in order to do so, they must reduce their prices,” said Chapman University economist Esmael Adibi.

Spec mansions are now amassed in some areas like rising floodwater behind a dam. A search of homes for sale built since 2007 and priced above $3 million shows 39 such properties in Newport Beach and Newport Coast, 27 in Laguna Beach, 19 in Manhattan Beach, 18 in Irvine and 11 on the Palos Verdes Peninsula.

There are also hundreds of other multimillion-dollar homes for sale in Southern California that were not recently built, but sellers who live in homes they bought before the housing bubble are less likely to be under the same pressure to sell as speculators stuck with vacant properties and construction loans coming due.

As speculators and recent purchasers who must get out of mortgages that exceed their home values slash prices to find buyers, other sellers will have to lower their prices to compete.

In much the same way that foreclosures pulled down market prices for lower-priced homes, stressed sellers could deflate the high end by unloading luxury homes at bargain prices.

But even at cut-rate prices, few multimillion-dollar homes are selling. With so many to choose from, even those with enough money are taking their time.

Original story reported by latimes.com

Filed Under: Inventory, Listings, Real Estate, Spec Homes, new homes Tagged With: ,

Home Builder Advertising

August 27, 2009 By Spec Homes Leave a Comment

“Feature your Inventory Homes on SpecHomes.com and drive an overwhelming response from active home buyers on the internet!”

home builder advertisingA Featured SpecHomes.com listing will appear in some of the most prominent sections of the site as well as appearing highlighted in our inventory home search results. Your featured listing will get premium visibility and increase the audience for your ready to move spec homes. The more prospects that see your inventory homes, the better chance you have of finding a buyer.

What are the Key Benefits?

  • High Visibility. Featured Inventory Homes are highlighted in the Search and on other content pages. This increases the chance of your listings getting noticed by active and passive property seekers.
  • More Click-Through. Your listing will get more detailed views from Real Estate Professionals by being a featured listing on SpecHomes.com!
  • More Exposure. Call more attention to your inventory house listing, your organization, and your opportunities by going featured, and take advantage of extra spec home web traffic through our online distribution partners.

How Does SpecHomes.com Syndication Work?

“Behind the scenes, we distribute your listings via automated XML feeds to major internet classified and search engine destinations such as:

Google Base, Oodle, Vast, Backpage, Propsmart, Edgeio, Lycos, Zillow, Trulia, Local.com, FeedBurner, and many more…

(We also supply automated notification of new page contents to Yahoo, Google, & MSN daily!)

In order for your spec home inventory to appear as a featured SpecHomes.com listing, you must first submit your data via your easy to use account control panel. Once your spec home ad is live, it will be rotated throughout the site with other featured listings in your local region or area.

“Syndication is a term we use to define the most unique part of our service.”

Basically you create your spec home listings once on SpecHomes.com via our easy to use control panel, and we do all the heavy lifting behind the scenes of sending your classified listing information to other high traffic websites. So you can potentially have dozens of websites advertising your inventory all across the internet!

SpecHomes.com consistently appears on the first page of search results for hundreds of keywords and search terms related to:

Spec homes, inventory homes, home builder inventory, new home community, and home builder directory on Google, Yahoo!, MSN, AOL, and many others as well!

These FREE Extra Features make you Local Internet Marketing Experts!

•         Create and submit new home community events relative to your new homes and communities for free to our online New Home Community Events Calendar – perfect for extra exposure online!

•         Find out what the competition is up to – sign up for free automated email alerts in your area! When another home builder posts a listing in your city, will send you a notification to check out their offerings.

And We Never…

•         Sell, Rent, or Share your confidential information!

•         Charge you for individual leads. Your listings = Your customers!

We want you to dominate your local marketing area on the internet and we provide you the latest tools available on the internet today to do just that.

Contact Us Today!

Filed Under: Home Builders, How-to, Marketing, Sales, Spec Homes Tagged With: ,

Balinese Design at 1446 Donhill Drive

June 2, 2009 By Spec Homes Leave a Comment

view of spec houseThe LA Times Hot Property column reports that real estate mogul Mohamed Hadid’s latest Beverly Hills offering has had a price drop from $16.5 million to $12.9 million.

The 12,000-square-foot spec home located near Beverly Hills, California at 1446 Donhill Drive has a Balinese design with bamboo, exotic Asian woods and other materials imported from around the world.

This is opulence on a grand scale with heavy doors, floor-to-ceiling glass windows, and three separate master suites among the six bedrooms.

There is a Balinese-styled home theater, wine cellar and a gorgeous infinity pool with unobstructed views.

All of the furnishings are included in the price of this lavish spec house. 

Preview short VIDEO tour.

Filed Under: Listings, Real Estate, Sales, Spec Homes, new homes Tagged With: ,

Spec Homes Leveled by Bailout Bank

May 8, 2009 By Spec Homes Leave a Comment

victorville california map spec homesHave you read the headlines surrounding the demolition of 16 never lived in, new homes near Victorville, California?

Patrick Thatcher, staff writer for the Daily Press first posted this VIDEO on Youtube.

Guaranty Bank says knocking the homes down is cheaper than finishing them, making some wonder if it could happen here.

The Texas-based bank has decided to have the spec homes destroyed in the desert community because the estimated $1 million cost to complete them was more than it could make selling them.

Four of the luxury homes, priced in the $280,000-350,000 range, were already finished, and the others were in various stages of completion. The estimated cost of the demolition was over $100,000.

“It’s incredibly unusual I’ve not heard of it all in Texas I’ve seen that maybe once or twice in my whole life,” said Harry Savio of the Austin Home Builders Association.

 

Filed Under: Appraisal, Construction, Finance, Home Building, Spec Homes, new homes Tagged With: , , ,

Grand Heritage – Bowen Family Homes

September 4, 2008 By Spec Homes Leave a Comment

GRAND HERITAGE – This resort style community offers a luxurious clubhouse, with a 300,000 gallon swimming center, state of the art fitness center, gaming rooms, computer labs, ballrooms, meeting rooms plus more!Convienent to Highway 30, George Bush Turnpike, Highway 78 and 380. Just minutes north of the brand new Firewheel outdoor mall and shopping center.This home has beautiful vaulted ceilings, nice back yard view that backs up to nice wooded area. Ceramic tile in all wet areas, granite,security system, sprinkler system and much much more.

Additional Details
  • Ceramic Tile
  • Fireplace
  • Full Sodded Yard
  • Granite Surface
    		•
  • Ready to Move In
  • Energy Star Certified
  • Landscaped
  • Sprinkler System
  • Swimming Pool
    		•

    $200,990.00
    3 Bed 2 Bath
    2,030 Bldg. Sq. Ft.
    302 Houston Street
    Lavon, TX 75166Schools Community

    View Property Website

    Seller Profile
     Bowen Family Homes @ Grand Heritage
    204 San Jacinto
    Lavon, TX 75166
    972.767.6464
    bowenfamilyhomes.grandheritage@gmail.com
    Filed Under: Home Builders, Listings, Marketing, Real Estate, Sales, Spec Homes, new homes Tagged With: ,

    Awesome 2-Story with Many Upgrades – Inventory Home

    March 4, 2008 By Spec Homes Leave a Comment
    Awesome 2-Story with Many Upgrades – Inventory Home
      $231,128.00
    4 Bed 2.5 Bath
    2,939 Bldg. Sq. Ft.
    9206 Wild River
    Arlington, TX 76002MLS 10937235
    Lot Size 60 Sq. Ft.
    Schools Mansfield
    Year Built 2008

    View Property Website
    Description
    4 bedrooms, 2.5 baths, 2 dining, Formal Living, Media Room with raised platform & sconce lighting, covered patio, Granite counters and many more upgrades. Ready for March Move-In.Photos, elevations &/or computer generated images are for illustration purposes.
    Additional Details
  • Ceramic Tile
  • Covered Patio
  • Fireplace
  • Full Sodded Yard
  • Granite Surface
    		•
  • Guttering
  • 50% Complete
  • Energy Star Certified
  • Landscaped
  • Sprinkler System
    		•
    Seller Profile
    Kimball Hill Homes
    Brittany Garritson
    3010 LBJ Freeway, Suite 1100
    Dallas, TX 75234
    972-481-2215
    brittanygarritson@khhcorp.com
    Filed Under: Listings, Real Estate, Spec Homes, new homes Tagged With:
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